ENRC reduces stake in Serovsk Ferrous Alloys Plant from 89% to 69.5%
YEKATERINBURG. March 15 (Interfax) - Dutch company Eurasian Natural Resources Corporation Plc (ENRC), which manages the assets of the same-named Kazakh holding, reduced its stake in the charter capital of OJSC Serovsk Ferroalloy Plant (Sverdlovsk Region) to 69.4892%, or 34,675,646 common shares, on March 15, the plant said in its materials.
ENRC earlier owned 44,630,132 common shares, or 89.4378% of the company's charter capital.
Interfax was unable to confirm why ENRC reduced its stake and who acquired this share packet in the plant.
According to the plant's charter, the enterprise's charter capital comes to 49,900,750 rubles divided into common shares at a face value of one ruble each.
OJSC Serovsk Ferroalloy Plant specializes in the production of chrome ferroalloys, the main consumers of which are metallurgical enterprises.
ENRC was created in late 2006 as a result of reorganization of Eurasian Industrial Association and now also includes the assets of Kazchrome, Aluminum of Kazakhstan, Kazakhstan Electrolysis Plant, Sokolov-Sarbai Mining and Processing Integrated Works, Zhairem Mining and Processing Integrated Works, Eurasian Energy Corporation, ENRC Logistics and ENRC Marketing Sales.
ENRC came out with an IPO on the London Stock Exchange in 2007.